Henry Farrell in Crooked Timber:
Attention conservation notice: long (nearly 5,000 words long) essay on the economic power of ideas. To its credit, the questions discussed are plausibly important. To its detriment, the arguments are less arguments than gestures, and the structure is decidedly baggy.
For the last couple of weeks, I’ve been wanting to write a response to Aaron Major’s (paywalled) article on ideas and economic power for Catalyst. Now there’s a second piece by Jeremy Adelman in Aeon on Thomas Piketty and Adam Tooze. I think they’re both wrong, but in different ways. Major’s piece suggests that economic ideas don’t really matter very much – it’s the economic base, not the superstructure that’s doing the work. Adelman, in contrast, think that ideas are super important – he just thinks that Piketty and Tooze have ones that are leading us in the wrong direction.
These arguments come from radically different places, but they have one thing in common. They both substantially underestimate the role that ideas have played in getting us to where we are on the left, and what they they’re likely to do for us in the near future.